Before the Bitfinex Hack, Bitcoin Was Projected to Rise
Could ETC be a shelter from losses?
By Jared Willis
It is posited that the successful hack of Bitfinex amplified the already existing decline of Bitcoins:
See the article here:
However, this article (http://goo.gl/GKE1Bd) written yesterday has a great analyzation of some of the market indicators that led to the decline over the weekend, and estimated that Bitcoin would climb to $820.
It will be interesting over the next week to see what happens with the most prominent cryptocurrency.
Another interesting conversation is the one surrounding a hard fork. A proposal that, over the last 24 hours, has seen renewed traction. This discussion is likely prompted by the Ethereum hard fork last week (my money, quite literally, is on ETC). Here are a few articles within the last day have addressed the topic: http://goo.gl/A5UPdY
In the meantime, adventurous Bitcoin holders can find temporary solace in Ethereum Classic (ETC). No, this is not an advertisement for ETC, though - as mentioned before - I do have a personal investment in ETC. This is based on the fact that, while every other cryptocurrency has declined in relation to USD, ETC has remained stable. Not only has it remained stable, but over the last 4 days has more than doubled in value. Is this growth sustainable? Maybe not, but some analysts (http://goo.gl/ghnvkx) seem to think it will continue to grow and even double again. It certainly is interesting to see an altcoin that does not seem to be dependent on BTC for market value. One can only wonder what will happen when/if BTC makes a comeback.
Let me know what you think in the comments!